Whalesbook
TCS ne FY26 ka Q4 ekdum mast finish kiya hai. Company ka Net Profit 12% saal-dar-saal badh kar ₹13,718 Crore ho gaya, aur revenue bhi 10% jump karke ₹70,698 Crore tak pahunch gaya. Is baar sabse bada highlight raha AI, jisme company ne saal bhar mein $2.3 Billion se zyada revenue banaya. Deall wins bhi shaandaar rahe, quarter mein $12 Billion ke naye contracts mile, aur poore saal ka total $40.7 Billion pahunch gaya.
Ab numbers toh ache hain, par stock market mein thodi alag kahani chal rahi hai. April 9, 2026 ko share ₹2,589.00 par band hua, din mein bas 1.16% ka gain. Is saal 2026 mein ab tak TCS ka share 21.19% gir chuka hai, aur pichle ek saal mein bhi 21.17% neeche gaya hai. Ye IT sector ka overall trend bhi dikha raha hai, jahan Nifty IT index ne March 2026 quarter mein 23% ka bada dip dekha hai.
Toh bhai, FY27 ke liye IT sector ka outlook toh theek-thaak lag raha hai, 6-7% growth ka andaaza hai. Lekin AI ka scene thoda complex hai. Ek taraf toh AI naye revenue ke raaste khol raha hai, doosri taraf ye traditional services mein revenue kam kar sakta hai aur company ko invest bhi zyada karna pad raha hai, jis se margins par pressure aa raha hai.
Analysts ka group is baat par bata hua hai. Jefferies ne 'underperform' rating rakhi hai aur target ₹2,275 diya hai, woh BFSI sector mein kamzori, deal bookings ka flat rehna, aur AI se revenue kam hone ka risk bata rahe hain. Goldman Sachs ne 'buy' rating rakhi hai aur target ₹2,710 diya hai, par woh bhi keh rahe hain ki AI capabilities mein jo reinvestment ho raha hai, woh abhi margins ko neeche kheench raha hai. Lekin, Morgan Stanley ko AI momentum par bharosa hai aur unhone target ₹3,540 kar diya hai, aur margin 25% ke aas-paas stable rehne ki ummeed hai. Citi ne apna 'Sell' rating maintain kiya hai target ₹3,020 ke saath.
Valuation ki baat karein toh TCS ka P/E ratio lagbhag 18.9-19.4 hai, jo HCLTech (P/E 22.9-24.07) aur Tech Mahindra (P/E 26.5-30.95) ke muqable theek lagta hai. Infosys ka P/E 17.4-18.3 aur Wipro ka 15.0-15.6 hai. TCS ka current P/E apne 5-saal ke low ke kareeb hai, matlab ya toh market ne growth ko already stock mein add kar liya hai ya phir future growth ke liye expectations kam hain. Management ka kehna hai ki AI hi future growth ka main engine banega, aur company badi multi-pillar deals secure karne par focus karegi. Lekin Jefferies ka andaaza hai ki FY2026-2029 tak TCS ka EPS growth 5.5% ke aas-paas hi rahega. Ab dekhte hain TCS kaise AI investments ko profit aur growth mein badalta hai.